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ivanzaharov [21]
4 years ago
14

Kareem and Kira each opened a savings account today. Kareem opened his account with a starting amount of $770, and he is going t

o take out $30 per month. Kira opened her account with a starting amount of $935, and she is going to take out $45 per month. Let x be the number of months after today.
Required:
How many months will it take you to save enough money to buy 10 acres of land on Mars?
Mathematics
1 answer:
allochka39001 [22]4 years ago
4 0

Answer:

Step-by-step explanation:

The question is not complete, i think the correct question is:

Kareem and Kira each opened a savings account today. Kareem opened his account with a starting amount of $770, and he is going to deposit $30 per month. Kira opened her account with a starting amount of $935, and she is going to deposit $45 per month. Let x be the number of months after today

Let us assume that each acre of land on Mars cost $107.

a) For Kareem account, she started with $770 and would deposit $30 per month. Let y represent the money deposited after x month. This can be represented by the equation:

y = 770 + 30x

Since each acre cost $107, 10 acre would cost $1070. Therefore $1070 is needed to be saved. To find the number of months, substitute y = 1070 and solve. Therefore:

1070 = 770 + 30x

1070 - 770 = 30x

30 x = 300

x = 300/30

x = 10

It would take 10 months for Kareem to buy 10 acres of land

b) For Kira account, she started with $935 and would deposit $45 per month. This can be represented by the equation:

y = 935 + 45x

Since each acre cost $107, 10 acre would cost $1070. Therefore $1070 is needed to be saved. To find the number of months, substitute y = 1070 and solve. Therefore:

1070 = 935 + 45x

1070 - 935 = 45x

45 x = 135

x = 3

It would take 3 months for Kira to buy 10 acres of land

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Answer:

t = 11.559 years

<h3>Compound Interest </h3>

Given Data

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Calculation Steps:

First, convert R as a percent to r as a decimal

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t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.0045833333333333)] )

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